Post Tagged with: "Alipay"

China has outstripped fintech hubs like London, New York, and Silicon Valley, and is now the global leader in financial innovation, according to a new report released by financial service firm EY and DBS Insights. According to the Rise of Fintech In China report, China has experienced an explosive growth periodRead More

Digital payments startup Stripe, begun back in 2000 by a pair of Irish brothers, has just raised new funding that values the company at just over $9 billion—and incidentally makes its founders the youngest billionaires in Ireland. In all, $150 million in new capital was raised. This brings the company’sRead More

During the first two hours of the annual 11/11 Global Shopping Festival, or Single’s Day as it is more commonly known, the Alibaba Group generated just about $7 billion USD of GMV within the first two hours of the holiday. Alipay transactions accounted for 84% of that total amount. Alipay isRead More

Financial technology may be evolving at a rapid pace, but well, so is financial crime — meaning that the security of online and mobile payments is a constantly developing area and nowhere more so than biometrics. This is obviously of interest to financial institutions across the globe, like the companyRead More

Aim big, they say. Ant Financial did just that. The Alibaba affiliate that operates the digital payments platform Alipay, Ant Financial said this week it will sign up 2 billion users in 10 years for the pipeline of its fintech businesses. Those include digital payments, wealth management, financing, insurance, andRead More

Uber’s deal with Alipay is more than just a win for riders of black cars. The deal moves Alipay further toward its goal of becoming a “global lifestyle super app” — Alipay’s words, not ours. Ant Financial, which operates Alipay, recently raised $4.5 billion in what is being called the largestRead More

HONG KONG — The numbers are in “holy *$#%” territory. “The numbers” are for e-commerce sales in China, and they are astounding. In the first two months of 2016, China’s online retail sales hit $98.2 billion, an increase of 27% over the previous year. That puts it on pace to hit around $590Read More

PayPal is to eBay as Alipay is to Alibaba. Only on steroids. To heck with Super Bowl ads — the coolest alternative payments company on the planet is Alipay. So China’s economy is stalling. So regulation gives Alipay advantages over even MasterCard and Visa. Alipay is a payments startup onRead More

Where are mobile financial services most popular? Try your wrist. Finance apps proved to be among the most popular on wearable devices, according to App Annie’s 2015 Retrospective report. On smartphones and tablets, finance apps didn’t make the Top 10. There was one market, however, that proved an exception: China. In China,Read More

There are still Christmas leftovers in the refrigerator, but already it looks like the 2015 holiday season will go down as a momentous one for digital payments. Amazon reported today that nearly 70% of Amazon.com customers shopped using a mobile device this holiday season, while customers shopping on the company’s mobileRead More